Global Decorative Coatings Market, By Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, Others), Product (Primer, Enamel, Emulsions, Others), Formulation (Water-Based, Solvent-Based), Substrate (Metal, Plastic, Glass, Others), Coat Type (Top Coat, Base Coat, Others), Application (Architectural, Automotive, Domestic Appliances, Medical, Sporting Goods, Jewellery, Cosmetics, Aerospace), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Decorative Coatings Market
Global Decorative Coatings Market is set to rise from its initial estimated value of USD 26.97 billion in 2018 to an estimated value of USD 39.09 billion by 2026, registering a CAGR of 4.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased urbanization and industrialization worldwide. The overall spend on construction has increased which is expected to positively impact the decorative coatings market in the forecast period.
Market Definition: Global Decorative Coatings Market
Decorative coatings are the paint or coating materials used or applied for the enhancement of physical strength and aesthetic appeal of the surfaces they are applied to. They protect against corrosion, bacteria, moisture and even UV radiation. They are available in a number of different colours which makes the application of these coatings on the different sources appealing.
- Increased urbanization and industrial worldwide driving the rise in construction is expected to drive the growth for decorative coatings market
- Advancements and developments in the market is also expected to drive the market growth
- Environment effects of solvent-borne coatings with VOC emissions involved in its production is expected to restrain the market growth
- Vulnerability and fluctuation in the prices of raw materials is also expected to restrain the market growth
Segmentation: Global Decorative Coatings Market
- By Resin Type
- By Product
- By Formulation
- By Substrate
- By Coat Type
- Top Coat
- Base Coat
- By Application
- Door Handles
- Push Buttons
- Trim Mouldings
- Lighting & Reflectors
- Domestic Appliances
- Home Equipment
- Sanitary Fixtures
- Exterior Siding
- Window & Door
- Electronic Appliances
- Mobile Phones
- Home Equipment
- Medical Implants
- Electronic Equipment
- Orthopaedic Equipment
- Sporting Goods
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In March 2016, The Sherwin-Williams Company announced the confirmation of an agreement with The Valspar Corporation regarding its acquisition. The acquisition will impact the global market expanding the market share and help improve the market strategy of The Sherwin-Williams Company.
- In September 2018, Akzo Nobel N.V. announced the acquisition of Xylazel S.A. with the acquisition creating a leader of decorative paints and coatings business in Spain in the shape of Akzo Nobel N.V.
Competitive Analysis: Global Decorative Coatings Market
Global decorative coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of decorative coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Decorative Coatings Market
Few of the major competitors currently working in the decorative coatings market are PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, NIPSEA GROUP, Kansai Paint Co.Ltd., Bayer AG, KCC CORPORATION, Jotun, Koninklijke DSM N.V., BASF SE, Benjamin Moore & Co., Masco Corporation, DAW SE, The Arkema Group, Berger Paints India Limited, Cabot Corporation, Clariant, Eastman Chemical Company, Tikkurila, Cromology, HEMPEL A/S, Ashland, and RPM International Inc.
Research Methodology: Global Decorative Coatings Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request An Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved